Nigeria: 'Country Loses $2.5 Billion Annually to Gas Flaring'

Posted to the web 24 July 2008 Adibe Emenyonu Benin The Chairman, Gas Monitoring Committee of the Revenue Mobilisation, Allocation and Fiscal Commission, Emmanuel Nsa yesterday revealed that Nigeria loses an estimated $2.5 billion annually to gas flaring aside its negative environmental implication on the inhabitants of the oil and gas area. Nsa made the disclosure when he and members of the gas flaring committee of [RMAFC] visited Government House, Benin, adding that Nigeria has the highest gas reserve in Africa and ranked seventh in the world with a production capacity to last for 100 years. He said the team came to Edo State to verify the production levels, type of gas produced, qualities of associated and non-associated gas produced in the state as well as its contribution to the federation account. According to Nsa, "the... [read full story]